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India Business Wire India Q4 <keyword id="45663" type="ORGANIZATION" weightage="20" keywordseo="Revenue">Revenue</keyword> of 197.5mn, up 4% QoQ Q4 Net profit of ₹195 crore, up 5% QoQ <keyword id="1380245" type="COMPANY" weightage="20" keywordseo="LT-Technology-Services">L&amp;T Technology Services</keyword> Limited (BSE: 540115, NSE: LTTS), India's leading pure-play engineering services company, announced its results for the fourth quarter and full year ended March 31, 2021. Highlights for Q4FY21 include: Revenue at ₹14,405 million; growth of 2.8% QoQ <keyword id="54123" type="COMPANY" weightage="20" keywordseo="USD">USD</keyword> Revenue at 197.5 million; growth of 3.9% QoQ EBIT margin at 16.6%; up 140 bps QoQ Net profit at ₹1,945 million; growth of 4.5% QoQ Highlights for FY21 include: Revenue at ₹54,497 million; decline of 3% USD Revenue at 737 million; decline of 6.3% EBIT margin at 14.5% Net profit at ₹6,633 million; decline of 19% Board has recommended a final dividend of ₹14.50 per share During the quarter, LTTS won 6 deals with TCV of USD10 million plus, which includes 2 USD25 million plus deals. Revenues from digital and leading-edge technologies stood at 52% during the quarter. We are exiting FY21 on an optimistic note post three consecutive quarters of strong deal wins and sequential revenue and operating margin improvement. The annual free cash flow generation at ₹1,252 crores was at a record high. I am happy to note that in Q4, our revenue is back on the positive year-over-year growth path. We are seeing healthy deal win closures and pipeline build up as customers look for innovation and digital led transformation to strengthen their market positioning. Across all our five segments, we are investing in disruptive technologies and design labs to further the growth. As we continue to execute in an environment made difficult by Covid uncertainties, I would like to thank our employees for their commitment, customer focus and resilience that has helped us deepen strategic relationships, said Amit Chadha, CEO &amp; Managing Director, L&amp;T Technology Services Limited. Industry Recognitions: LTTS has been recognized as a Leader' for Development and Verification &amp; Validation services in Industry 4.0 by Everest Group ISG Group rated LTTS as Leader' in Smart Manufacturing Services for Automotive and Hi-Tech LTTS won the 2021 Big Innovation Awards, USA for Chest rAI and i-BEMS . For its Solar Electrification tribal village project, LTTS was conferred with the Mahatma Award for CSR Excellence. Patents At the end of the fourth quarter, the patents portfolio of L&amp;T Technology Services stood at 650, out of which 485 are co-authored with its customers and the remaining 165 have been filed by LTTS. Human Resources At the end of Q4FY21, LTTS' employee strength stood at 16,452. About L&amp;T Technology <keyword id="266374" type="DOMAIN" weightage="20" keywordseo="Services-Ltd">Services Ltd</keyword> L&amp;T Technology Services Limited (LTTS) is a listed subsidiary of <keyword id="689816" type="COMPANY" weightage="20" keywordseo="Larsen-Toubro-Limited">Larsen &amp; Toubro Limited</keyword> focused on Engineering and R&amp;D (ER&amp;D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 53 of the world's top ER&amp;D companies, across industrial products, medical devices, transportation, telecom &amp; hi-tech, and the process industries. Headquartered in India, we have over 16,400 employees spread across 17 global design centers, 28 global sales offices and 69 innovation labs as of March 31, 2021. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/the-designer-for-bentley-aston-martin-and-jaguar-will-now-work-on-ola-electric-new-models/articleshow/82383151.cms">The designer for Bentley, Aston Martin and Jaguar will now work on Ola Electric's new models</a> <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-download-release-date-everything-we-know-so-far/articleshow/82383038.cms">PUBG Mobile India to relaunch as Battlegrounds Mobile India – here’s what we know so far</a> <a href="https://www.businessinsider.in/tech/apps/news/coders-are-coming-up-with-new-ways-to-check-for-covid-19-vaccination-slots-on-cowin/articleshow/82383284.cms">Indian coders are working around the CoWIN app to help people bag the elusive vaccine slots</a> <a href="https://www.businessinsider.in/tech/news/apple-analyst-predicts-an-8-inch-foldable-iphone-to-launch-in-2023/articleshow/82383566.cms">Apple analyst predicts an 8-inch foldable iPhone to launch in 2023</a>

L&T Tech announces dividend of ₹14.50  even as revenue for the year dips by 3%

<ul class="summary-list"><li>Alphabet shares hit all-time highs Wednesday following first-quarter results that beat expectations. </li><li>Earnings of $26.29 per share came in higher than the $15.82 per share estimate from Refinitiv. </li><li>Alphabet also got authorization from its board to repurchase up to an additional $50 billion of its shares.</li></ul><a href="https://markets.businessinsider.com/stocks/goog-stock">Shares of Google parent Alphabet</a> hit record intraday highs on Wednesday after the company posted first-quarter earnings and revenue that beat Wall Street expectations. The tech giant was also authorized by its board to repurchase up to an additional $50 billion of its own stock.A 34% rise in revenue supported by stronger advertising sales helped the company blow past analyst estimates. Earnings were $26.29 per share, well above the Refinitiv estimate of $15.82 per share and earnings of $9.87 per share a year earlier.Total revenue of $55.31 billion was ahead of the $51.70 billion estimate from Refinitiv. A year ago, revenue was $44.16 billion. The increase reflected consumer activity online and broad-based ad revenue growth, the company said. Traffic acquisition costs came in at $9.71 billion, up from $7.45 billion a year earlier.The stock climbed as much as 5% to $2,397 per share. It's gained 31% year-to-date, driven in part by investors expecting the company to benefit from increased use of search services amid the pandemic."Over the last year, people have turned to <keyword id="6355629" type="DEFINITION" weightage="60" keywordseo="google">Google</keyword> Search and many online services to stay informed, connected and entertained. We've continued our focus on delivering trusted services to help people around the world," said Sundar Pichai, Alphabet's CEO, in a statement.Revenue from Google Search rose to $31.9 billion from $24.5 billion and YouTube ads drew in $6 billion, up from $4 billion in the prior period."We see a permanent shift to digital drawing ever more ad dollars, with particular strength in YouTube as it is the new TV of this decade. Further, we see real momentum across Google as the global economy re-opens in stages and marketing budgets ramp up," said Brent Thill, an equity analyst at Jefferies, in a note.

Google parent Alphabet jumps to record as strong ad sales push 1st-quarter results past Wall Street's forecasts

<ul><li><keyword id="2535680" type="General" weightage="20" keywordseo="LT-Technology" source="Orion">L&amp;T Technology</keyword> Services Limited on Wednesday reported 22 per cent revenue <keyword id="42546" type="General" weightage="20" keywordseo="growth" source="Orion">growth</keyword>.</li><li>For the fourth quarter of FY23, the pure-play engineering services company recorded Rs 2,096 crore, a growth of 19 per cent YoY.</li></ul>New Delhi, L&amp;T Technology Services Limited on Wednesday reported 22 per cent revenue growth at Rs 8,014 crore for the FY23. The net <keyword id="6362247" type="General" weightage="20" keywordseo="profit" source="Orion">profit</keyword> for the fiscal year was Rs 1,170 crore, also a 22 per cent jump (on-year). For the fourth quarter of FY23, the pure-play engineering services company recorded Rs 2,096 crore, a growth of 19 per cent YoY, with a net profit of more than Rs 309 crore, a 18 per cent growth. During the quarter, LTTS won a $40 million deal and three $10 million plus total contract value (TCV) deals. "FY23 was a landmark year for us as we crossed a billion dollars in revenue run rate and Rs 1,000 crore in annual profits. Our EBIT margin was the highest ever at 18.5 per cent driven by a strong focus on building a robust and sustainable operating model," said Amit Chadha, CEO and Managing Director, L&amp;T Technology Services Ltd. The combination of steady growth and expanding operating margin has led to an 18 per cent CAGR in profits over the last 5 years, he added. At the end of Q4 FY23, the patents portfolio of L&amp;T Technology Services stood at 1,090, out of which 727 are co-authored with its customers and the rest are filed by LTTS. The company currently has 22,233 employees. LTTS's customer base includes 69 Fortune 500 companies and 57 of the world's top ER&amp;D companies, across industrial products, medical devices, transportation, telecom &amp; hi-tech, and the process industries. "We are optimistic about the future and look for another year of strong growth as we partner with the top ER&amp;D companies globally in developing next generation products", said Chadha. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/the-best-vpns-to-safeguard-your-online-privacy-and-security-in-india/articleshow/99727397.cms">The best VPNs to safeguard your online privacy and security in India</a> <a href="https://www.businessinsider.in/tech/news/formerly-barred-from-pharma-industry-entrepreneur-develops-ai-tool-using-chatgpt-to-cut-down-hospital-runs/articleshow/99662101.cms">Formerly barred from pharma industry, entrepreneur develops AI tool using ChatGPT to cut down hospital runs</a>

L&T Technology Services logs 22% growth in revenue, net profit in FY23

<ul class="summary-list"><li><keyword id="6357061" type="SPONSORED" weightage="60" keywordseo="earnings">Earnings</keyword> for <keyword id="123873" type="PERSON" weightage="60" keywordseo="SP-500">S&amp;P 500</keyword> companies are expected to rise by 6% in the first quarter of 2021, according to FactSet data. </li><li>A 6% increase would mark the largest rise since the firm starting tracking the bottom-up EPS estimate in early 2002. </li><li>The energy and materials sectors are on track to post double-digit increases in earnings. </li></ul>Expectations for quarterly earnings growth are at their strongest in about two decades as analysts pencil in the impact of the US economy's acceleration out of recession, led by projections for earnings in the energy sector to more than double.A big wave of financial reports should hit Wall Street in mid-April, with big banks including <a href="https://markets.businessinsider.com/stocks/jpm-stock">JPMorgan Chase</a>, <a href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs</a> and <a href="https://markets.businessinsider.com/stocks/wfc-stock">Wells Fargo</a> among the companies that will kick off the first-quarter earnings season for 2021.Ahead of that, Wall Street analysts are looking for <a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest">S&amp;P 500</a> 500 companies overall to post a 6% increase in bottom-up per-share earnings, according to FactSet. A 6% rise would represent the largest increase since the financial-data firm began tracking the earnings estimate in the second quarter of 2002. Earnings, on average, are currently expected to come in at $39.86 per share.The bottom-up EPS estimate is an aggregation of the median first-quarter earnings-per-share estimates for all of the companies in the S&amp;P 500, FactSet said in a note published Thursday.The projected 6% increase stands out in part because a bottom-up EPS estimate usually decreases during a quarter. FactSet said during the past five years, the estimate has recorded a decline of 4.2% during a quarter, and during the past 15 years, it has tended to post a decrease of 5.1%.Analysts "may have been too aggressive in their downward revisions to EPS estimates during the first half of 2020 at the height of the COVID-19 lockdowns," wrote John Butters, senior earnings analyst at FactSet, in looking at the factors behind the boost in first-quarter projections.The global economy sunk into recession last year as the coronavirus pandemic forced businesses worldwide to close or reduce operations to curb the spread of the respiratory disease. The US economy contracted by 33% in the second quarter of 2020.But analysts in the third quarter of 2020 began raising their earnings expectations for that quarter and beyond. FactSet foresees US gross domestic product expanding by 5.7% in 2021, higher than the projected 4% rate on December 31.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-with-best-profitability-growth-estimates-gs-2021-4" target="_blank" rel="noopener">Goldman Sachs says buy these 33 stocks now as profits rebound for companies that suffered the most during the pandemic</a>Rising commodity prices and interest rates also appear to be fueling upward revisions. Oil prices have jumped by more than 20% to top $59 a barrel during the first quarter and the <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years">yield on the 10-year Treasury note</a> quickly scaled up above 1.7% during the first three months of this year from 0.92%. The highest percentage increases in bottom-up EPS estimates are for the energy, materials, and financials sectors as they are "likely benefitting from either higher commodity prices (Energy and Materials) or higher interest rates (Financials)," said Butters.Per-share earnings estimates for the energy sector have shot up by 123%, to $2.55 from $1.14, the largest boost in projections among the 11 sectors tracked on the S&amp;P 500 index. The financial sector is forecast to post a collective earnings increase of about 13% for the first quarter."Finally, companies in the S&amp;P 500 have been much more optimistic in their EPS guidance than normal," said Butters, noting that 61 companies have issued positive first-quarter guidance, well above the five-year average of 35."If 61 is the final number for the quarter, it will mark the highest number of S&amp;P 500 companies issuing positive EPS guidance for a quarter since FactSet began tracking this metric in 2006," he said.

US companies are expected to see their strongest profit growth in nearly 20 years after downward revisions were 'too aggressive'

<ul><li>So far, blended quarterly earnings declined 14.5% in the first quarter with 9% of S&amp;P 500 companies reporting, according to a <a href="https://insight.factset.com/sp-500-earnings-season-update-april-17-2020">Friday note</a> from John Butters, a senior earnings analyst at FactSet. </li><li>If earnings do decline 14.5% this quarter, it will be the largest fall since the 15.7% drop in the third quarter of 2009.</li><li>It will also mark the fourth time in the last five quarters that year-over-year earnings have dipped into negative territory, according to Butters. </li><li><a href="https://www.businessinsider.com/">Read more on Business Insider</a>.</li></ul>First quarter earnings are set to post the largest year-over-year decline since 2009, the biggest post-great financial crisis slump. But the worst may be yet to come as the <keyword id="8829783" type="UNKNOWN" weightage="60" keywordseo="coronavirus-pandemic">coronavirus pandemic</keyword> continues to hit businesses. Last week, about 9% of S&amp;P 500 companies reported earnings, according to FactSet. So far, the blended quarterly earnings decline — which includes companies that have reported as well as those yet to report — is 14.5%, according to a <a href="https://insight.factset.com/sp-500-earnings-season-update-april-17-2020">Friday note</a> from John Butters, a senior earnings analyst at FactSet. "Negative earnings surprises reported by companies in the Financials sector were mainly responsible for the increase in the overall earnings decline during the week," Butters wrote. Last week, big banks kicked off the earnings season, with <a href="https://markets.businessinsider.com/news/stocks/morgan-stanley-q1-earnings-plunge-30-below-wall-street-forecasts-2020-4-1029097922??utm_source=markets&amp;utm_medium=ingestgest">Morgan Stanley,</a> <a href="https://markets.businessinsider.com/stocks/gs-stock?utm_source=markets&amp;utm_medium=ingestgest">Goldman Sachs</a>, <a href="https://markets.businessinsider.com/stocks/c-stock?utm_source=markets&amp;utm_medium=ingestgest">Citigroup</a>, <a href="https://markets.businessinsider.com/stocks/jpm-stock?utm_source=markets&amp;utm_medium=ingestgest">JPMorgan</a>, <a href="https://markets.businessinsider.com/stocks/bac-stock?utm_source=markets&amp;utm_medium=ingestgest">Bank of America</a>, and <a href="https://markets.businessinsider.com/stocks/wfc-stock?utm_source=markets&amp;utm_medium=ingestgest">Wells Fargo</a> all reporting lower profits amid the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> pandemic.If earnings do decline 14.5% this quarter, it will be the largest fall since the 15.7% drop in the third quarter of 2009. It will also mark the fourth time in the last five quarters that year-over-year earnings have dipped into negative territory, according to Butters. Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-12-safe-durable-small-caps-bofa-2020-4">BANK OF AMERICA: Buy these 12 under-the-radar stocks that have balance sheets perfectly built to weather coronavirus turbulence</a>In the coming weeks, a number of large technology companies are scheduled to report their quarterly earnings, including <a href="https://markets.businessinsider.com/stocks/ibm-stock">IBM,</a> <a href="https://markets.businessinsider.com/stocks/nflx-stock">Netflix</a>, and the other FAANG stocks. Going forward, analysts are predicting more negative earnings in 2020, according to the note. The second quarter is forecast to be the worst this year, with earnings declining 26.6%, FactSet said. Analysts expect a 13.3% drop in the third quarter, and 4.8% drop to round out the year. Read the original article on <a href="https://www.businessinsider.com/q1-earnings-set-fall-most-2009-coronavirus-pandemic-companies-forecast-2020-4">Business Insider</a>

Earnings are set to slump the most since 2009 as coronavirus batters businesses — and forecasts show the worst is yet to come

<ul class="summary-list"><li>Swiss banking giant <keyword id="48085" type="CITY" weightage="60" keywordseo="Credit-Suisse">Credit Suisse</keyword> posted better than expected earnings Thursday, reporting a 75% increase in quarterly profits.</li><li>Credit Suisse reported a 1.3 billion Swiss franc or CHF ($1.33 billion) net profit in Q1 compared to the first quarter of 2019, which it attributed to a "negative tax rate."</li><li>The bank warned, however, that coronavirus will have a large and unknown impact on its business as 2020 progresses.</li><li><a href="https://markets.businessinsider.com/stocks/credit_suisse-stock">Watch Credit Suisse trade live at Markets Insider.</a></li></ul>Swiss banking giant <a href="https://markets.businessinsider.com/stocks/credit_suisse-stock">Credit Suisse</a> posted a 75% increase in profits in the first quarter of 2020, but warned that it expects a significant fall in profitability as the year goes on and the coronavirus pandemic impacts its business.Credit Suisse reported a 1.3 billion Swiss franc or CHF ($1.33 billion) net profit in Q1 compared to the first quarter of 2019, which it attributed to a "negative tax rate."Elsewhere in the bank's results it reported higher-than-expected revenues and earnings per share, as well as increased pre-tax profits and returns on equity.Here are the key numbers versus estimates from Bloomberg: <ul><li>Revenue: CHF 5.78 billion ($5.93 billion) reported versus CHF 5.39 billion ($5.53 billion) expected.</li><li>Adjusted earnings per share: CHF 0.53 ($0.54) per share versus CHF 0.31 ($0.32) expected.</li><li>Net income: CHF1 .3 billion ($1.33 billion) reported, 75% higher from the same period the previous year.</li></ul>The Swiss bank put aside CHF1 billion ($1.03 billion) during the quarter to protect the bank from uncertainty and a drastic fall in oil prices. Thomas Gottstein, chief executive officer of Credit Suisse Group, said "In my first quarter as CEO of the Group, we all witnessed a highly challenging environment with a severe impact from the COVID-19 pandemic."We delivered a resilient performance," he added."The scale of the adverse economic impact of the COVID- 19 crisis is still difficult to assess and we would caution that we may also see further reserve build and impairments in the coming quarters, particularly in our Corporate Bank and other loans, outside Switzerland, as well as from our investments in Asset Management.""Additionally, we would caution that the recovery in advisory and underwriting fees might be limited, at least in the short term until the COVID-19 pandemic eases and the global economy begins to recover."Credit Suisse is the first of many European banks due to announce first quarter earnings during a tumultous time. <div type="image" title="FILE -- In this Nov. 19, 2015 file photo Tidjane Thiam, CEO Credit Suisse, informs the shareholders about a capital increase during an extraordinary general assembly in Bern, Switzerland. Credit Suisse said Chief Executive Officer Thiam is resigning. Thiam will be replaced by Thomas Gottstein, a 20-year veteran of the bank who leads the Swiss unit. (Dominic Steinmann/Keystone via AP)" height="1258" width="2515" msid="75319111" hostid="261"></div>These are Gottstein's first results since taking over in February after the bank's previous chief executive <a href="https://www.businessinsider.com/credit-suisse-ceo-tidjane-thiam-steps-down-after-spying-scandal-2020-2?r=US&amp;IR=TIR=T">Tidjane Thiam was forced to step down in February following an acrimonious spying scandal</a> in which a Credit Suisse banker was allegedly stalked by private investigators after joining rival bank UBS. In light of COVID-19, the Swiss bank has decided to revise its dividend proposal for its Annual General Meeting due to take place on 30 April 2020.Under the revised approach, the board of directors proposed distributing half of the originally proposed dividend at the AGM, before handing out the other half at an extra shareholder meeting in the Autumn, subject to the bank's performance during the expected coronavirus recession.Credit Suisse's stock was little moved on the results, falling about 1% in Swiss trading as of around 4.30 a.m. ET.Read the original article on <a href="https://www.businessinsider.com/credit-suisse-q1-2020-earnings-profits-up-warns-virus-impact-2020-4">Business Insider</a>

Credit Suisse reports a shock 75% spike in profits, but warns coronavirus is having a 'severe impact' on its business

<ul class="summary-list"><li><keyword id="11212391" type="UNKNOWN" weightage="60" keywordseo="etsy-stock">Etsy stock</keyword> fell by 14% on Thursday after the online marketplace projected slower <keyword id="6357824" type="UNKNOWN" weightage="60" keywordseo="sales">sales</keyword> growth on its platform. </li><li>First-quarter earnings of $1 per share beat expectations of $0.88 per share.</li><li>Revenue of $550.6 million was ahead of Wall Street's estimate of $530 million. </li></ul><a href="https://markets.businessinsider.com/stocks/etsy-stock">Etsy shares</a> tumbled to their lowest price in nearly five months Thursday as the online marketplace said it expects quarterly sales on its platform to slow, with the warning accompanying first-quarter financial results that surpassed estimates from Wall Street analysts."We currently expect Q2 2021 [gross merchandise sales] to decelerate along with the rest of e-commerce as we lap the tremendous 2020 growth rates," said Josh Silverman, chief executive of <keyword id="279712" type="COMPANY" weightage="60" keywordseo="Etsy">Etsy</keyword>, in the company's earnings report released late Wednesday. "That said, we'll keep the pedal to the metal in 2021 to continue to improve our customer experiences," he added.Etsy projected gross merchandise sales to increase by 5%-15% on a year-over-year basis and for those sales to come in between $2.8 billion-$3.1 billion. The company was facing tough comparisons with a year earlier when the COVID-19 pandemic forced millions of people to spend more time indoors and online working and studying from home.Etsy fell 14% to $158.11 during the session. Before the drop to the lowest price since mid-December, shares of the company, which hosts small businesses selling arts and crafts and other items, have more than doubled over the past 12 months."Last year the world took notice of Etsy's highly differentiated value proposition, and that incredible momentum has continued into the first quarter of 2021," said Silverman. First-quarter consolidated GMS climbed 132% to $3.1 billion from a year earlier and Etsy marketplace GMS surged 144% to $2.9 billion.Etsy did not provide guidance for full-year 2021, citing ongoing uncertainty stemming from the pandemic.First-quarter earnings were $1 per share, soaring from $0.10 per share a year earlier and higher than the $0.88 per share expected by analysts polled by Refinitiv.Consolidated revenue was $550.6 million, more than double from $228.1 million a year ago and more than the $530 million projected on Wall Street.

Etsy slumps 14% after warning growth could slow in coming months following 1st-quarter earnings beat

<ul class="summary-list"><li>Home Depot shares fell as much as 1% on Tuesday, even after first-quarter financial results trounced expectations. </li><li>Earnings of $3.86 a share outpaced a FactSet consensus estimate of $3.02 a share</li><li>Revenue of $37.5 billion was higher than the $34.82 billion projection from Wall Street. </li></ul><a href="https://markets.businessinsider.com/stocks/hd-stock">Home Depot shares</a> slid on Tuesday, even after the retailer's first-quarter earnings jumped 86% from a year ago on strong demand for supplies as customers worked on <keyword id="133641" type="COMPANY" weightage="60" keywordseo="DIY">DIY</keyword> projects during the COVID-19 pandemic. Earnings came in at $3.86 a share, higher than the $3.02 a share estimated in a FactSet survey of analysts. A year ago, earnings were $2.08 a share. Revenue for the quarter ended May 2 was $37.5 billion, above the anticipated $34.82 billion and 33% higher than $28.3 billion a year earlier. Home Depot shares fell as much as 1%, but are still up roughly 20% year-to-date."Fiscal 2021 is off to a strong start as we continue to build on the momentum from our strategic investments and effectively manage the unprecedented demand for home improvement projects," Craig Menear, Home Depot's CEO, said in the earnings release.Worldwide comparable sales rose 31% from a year and US same-store sales increased by 29.9%. Home Depot has been considered an essential retailer during the pandemic, allowing homeowners and builders access to supplies and equipment such as hot water heaters, propane, and plumbing fixtures. Jefferies in a note said the company presented a "solid quarter" with strong expansion in operating margins. Jefferies has a buy rating on Home Depot with a price target of $374.

Home Depot slides even after first-quarter earnings blow out expectations amid unprecedented demand for DIY projects

<ul><li>Bajaj Auto announced its earnings for the first quarter of FY20. </li><li>Bajaj Auto’s profits stood at ₹1126 crores as compared to ₹1115 crores in the same quarter last year. </li><li>Its share price jumped by 4% after it announced earnings.</li></ul>Bajaj Auto’s share price jumped by over 4% as the country’s leading two and three-wheeler maker gave up margin for more market share. The company led by Chief Executive Officer Rajiv Bajaj in the domestic motorcycle segment, has a market share of 18.3% against 16.3% in Q1FY19. Meanwhile, in the sports segment, the company continues to enjoy a market share of nearly half the segment. This came at a cost. Overall margins shrank to 16.1% from 18.3% because automobile demand has been on a downtrend last few months. At a time when the sales for the entire two-wheeler industry fell 9%, Bajaj Auto clocked a 1.6% growth in sales between April and June 2019. Bajaj Auto’s profits stood at ₹1126 crores, just a tad higher than the figure the same time last year. It’s consolidated profit after tax stood at ₹1012 crores, down 2.8% from a year earlier. Its total revenue from operations grew 3.8% to ₹ 7,756 crores. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
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Bajaj Auto share price spikes as company gains market share

<ul class="summary-list"><li><keyword id="6359938" type="UNKNOWN" weightage="60" keywordseo="target">Target</keyword> shares rose as much as 3% on Wednesday after the company's first-quarter results jumped past Wall Street's estimates. </li><li>Adjusted earnings of $3.69 a share blew past the $2.25 a share estimate from Refinitiv. </li><li>Digital same-store sales grew by 50% during the three-month period. </li></ul><a href="https://markets.businessinsider.com/stocks/tgt-stock">Target</a> shares climbed as much as 3% on Wednesday following first-quarter results that showed earnings surged as shoppers took advantage of the company's same-day services.The <keyword id="110851" type="PERSON" weightage="60" keywordseo="retailer">retailer</keyword> said its adjusted earnings were $3.69 a share, well beyond the $2.25 a share forecast generated from a Refinitiv poll of analysts. Adjusted earnings soared from $0.59 a share a year ago.Total revenue increased by 23% to $24.2 billion in the three months ended May 1 from $19.62 billion a year ago, outpacing the $21.81 billion consensus estimate.The stock has gained more than 70% over the past year as the retailer, like others, has dealt with challenges brought on by the COVID-19 pandemic.Target said growth in the most recent period stemmed in part from a 50% climb in same-store <keyword id="2810918" type="PERSON" weightage="60" keywordseo="digital-sales">digital sales</keyword>, including more than 90% rise in same-day services such as drive-up and in-store order pickup and Shipt grocery deliveries.Shoppers purchased more apparel and home goods items, which helped the company gain more than $1 billion in market share during the quarter. "[We're] confident in continued comp growth in the second quarter and through the remainder of the year, as well as a healthy full-year operating margin rate," Target said in its earnings report.

You Searched For "ltts q1 earnings" and got 10 results

L&T Tech announces dividend of ₹14.50 even as revenue for the year dips by 3%

PTI

Google parent Alphabet jumps to record as strong ad sales push 1st-quarter results past Wall Street's forecasts

Carla Mozée

L&T Technology Services logs 22% growth in revenue, net profit in FY23

IANS

US companies are expected to see their strongest profit growth in nearly 20 years after downward revisions were 'too aggressive'

Carla Mozée

Earnings are set to slump the most since 2009 as coronavirus batters businesses — and forecasts show the worst is yet to come

Carmen Reinicke

Credit Suisse reports a shock 75% spike in profits, but warns coronavirus is having a 'severe impact' on its business

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